The ONE Bank Statement Program

the one bank statment web

The One-Month Bank Statement Program Details:

  • Self-employed Borrowers (two-year history required by (i) CPA Letter or (ii) Business License)

  • U.S. Residents

  • Income is ATTESTED to and DECLARED; CSC Underwriter to confirm reasonable for job and compare to credit usage / history
    – deposits into account are not the determinant figure

  • First Time Home Buyers Qualify, More Below***

  • Purchase Max LTV of 75%
  • Refinance Max LTV of 70%  (rate and term or cash out)

  • Borrowers with a minimum Credit Score of 650

  • Borrowers with a minimum credit depth of one (1) account of five (5) years & minimum of two (2) accounts with a two (2) year history, each paid as agreed

  • No credit events within the last five (5) years including and mortgage (minimum twenty four (24) month recent mortgage history required)

  • No charge offs, collections, or tax liens in the last three (3) years

  • Maximum loan amount of $5,000,000

  • Minimum loan amount of $250,000

  • Owner-occupied transactions

  • SFR / Condo / Townhouse Property Types

  • Most recent personal account’s bank statement with no NSFs and positive ending statement

  • Closing Funds may come from the account provided for qualifying income and an Escrow Deposit Receipt is required
    (only one month’s statement is required for assests)

  • Reserve funds are not required

  • CSC’s customary 5/1, 7/1 or 30yr programs

  • Cash out is unlimited, unless otherwise limited specific within CSC’s programs generally

  • Secondary Financing is not allowed

  • Property must be in good condition and conform to the area

  • No rural properties

  • ***First-time homebuyers qualify
    • 65% LTV Max  OR  60% / 80%  LTV/CLTV
    • $1,000,000 Max loan amount
    • Up to 50% gift funds allowed  
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